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Estate planning considerations after moving to another state

In the United States, it is not uncommon for individuals to move across state lines. Whether the move is for career, family or personal reasons, the change can have a wide range of impacts on a person’s financial and legal life. If someone moves to California from another state, it may be worth reviewing estate plans as part of the moving process. 

Here are a few estate planning topics to consider when making an interstate move: 

  • Power of Attorney – if the move has put distance between a planner and a designated POA, it might be time to update the designation. If someone lives outside the local area, it might be difficult if not impossible to exercise his or her authority in a timely manner. 
  • Executor – Most states have regulations restricting nonresident executors from serving, which can leave families in a bind if there is new distance between them. Discuss the state laws with a local lawyer, and be prepared to name a backup or an in-state agent if need be. 
  • Determine the official “domicile” – those who maintain addresses in multiple states may need to do research on the best place to list as their domicile. This can have a significant impact on taxes, both before and after passing away. 
  • Property titling – even if all property was titled to ones liking in an old home, a move across state lines could mean a change in how that property is seen under the law. California’s complex property tax system, for example, is a consideration most people should look into when moving to the state. 

Overall, moving to a new state can have several estate planning implications. It is vital that individuals consider the state laws in their new home, and consider how it might impact their current plans. To guide these discussions and any changes that may be needed, it can help to work with a California estate planning lawyer. 

 

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